These companies should benefit once medical marijuana goes nationwide in the U.S.

Even in America’s reddest states, favorable conditions for medical marijuana stocks could emerge soon. A permissive medical marijuana law received voter approval in Oklahoma earlier this year. Also, Republicans in Texas recently approved medical marijuana in their party platform. Cannabis’ days as a Schedule I drug are likely numbered. When this status changes, investing in medically-related marijuana stocks could reach a fever pitch.

Right now, most pot stocks trade on the OTC market and base themselves in Canada. The thirst for American investment has led more marijuana stocks to list on the NYSE and Nasdaq already, but more will likely join them when cannabis’ Schedule I designation ceases to exist. Both the designation switch and increased U.S. listing should flood more investment capital into the marijuana industry, driving stock prices higher. While many of these marijuana stocks have already achieved high valuations, investors could still more gains.

These 4 medical marijuana stocks are perfect to get into now before the interest in pot stocks becomes even bigger:

CannTrust Holdings, Inc. (CNTTF)

Vaughan, Ontario-based CannTrust (OTCMKTS:CNTTF) exists as a federally-regulated medical marijuana producer within Canada. It produces a 100% pesticide-free medical-grade cannabis and cannabis oils. The company also conducts medical research on marijuana-related drug products. CannTrust partnered with McMaster University and Hamilton Health Sciences on medical research trials.

CannTrust just completed their first overseas shipment of cannabis oil to Denmark-based StenoCare. CannTrust’s cannabis oil is the first and only to gain acceptance on the Danish Medicine List thus far. Incidentally, StenoCare will launch Europe’s first IPO by a medical marijuana company next month. Such a move will likely expand CannTrust’s reach within Europe.

From a financial perspective, CannTrust outshines most other marijuana stocks in one area — making a profit. Analysts forecast it will earn 11 cents CAD (8.5 cents U.S.) per share in 2018. They expect that to grow to 38 cents CAD (29 cents) per share in 2019. While that brings the forward price-to-earnings (P/E) ratio to 115, CNTTF still compares well to other profitable peers. Moreover, if the stock price were to stay the same over the next year, that P/E would fall to just over 33.

This marijuana stock’s profit should rise as its recreational brands also gain traction. With supply agreements in place in the Atlantic provinces, CannTrust now can sell across Canada. And with a schedule change in the U.S., its medical products could move south of the border. With the high growth potential and the financial stability, CNTTF one of the few cannabis stocks that will prosper under any conditions.

Hexo Corp. (HYYDF)

Hexo Corp. (OTCMKTS:HYYDF) develops and produces medical marijuana products for the Canadian market. Formerly known as Hydropothecary, this company offers a wide variety of cannabis-based products to treat various conditions.

Hexo has taken a slower approach than most of its peers. Unlike others, it has kept its focus to its core region, in this case, Quebec. However, that creates advantages. Through supply agreements, this should give the company a market share of about 34% within Quebec. Quebec also happens to border four pot-friendly U.S. states. If the U.S. market were to become available, Hexo could expand to New York and New England while keeping to its regional market.

Despite its smaller footprint, investors still need to look at HYYDF stock. It makes 24 different products ranging from tried products like cannabis flowers and cannabis powder to a fine cannabis mist. The company also works in conjunction with Molson Coors (NYSE:TAP) on cannabis-infused drinks.

Since the company has not spent heavily on expansion, analysts expect the company will break even next quarter. This should make the company profitable by the fourth quarter of this year. Consensus estimates for 2019 place profits at five cents CAD (3.9 cents) per share.

That gives the company a 2019 forward P/E ratio of about 129. This ratio should come down in future years, and it still compares favorably to most marijuana stocks. With its forecasted profits and its go-it-slow approach, I think HYYDF will not only survive, but thrive.

MariMed Inc. (MRMD)

MariMed (OTCMKTS:MRMD) specializes in medical-marijuana consulting. As a company, it helps others optimize production and sales for both the medical and legal cannabis firms. It helps to design production facilities to grow safe medical cannabis. It also offers business planning services to cannabis companies. Additionally, MariMed produces its own proprietary products that it sells under the MariMed brand name.

Such a business could help medical marijuana companies in Canada bring product into the U.S. once marijuana ceases to be a Schedule I drug. Moreover, it should help cannabis enterprises produce more medical marijuana as legal roadblocks gradually disappear. According to their last quarterly report, the company has initiated plans to operate in Florida, Michigan, New Jersey, Pennsylvania and Ohio.

Also, when non-cash charges are excluded, MRMD could call itself one of the profitable marijuana stocks. The company earned $530,000 in the first six months of the year. Due to stock option issuance and payment of debt via stock sales, the company reported an $8.1 million loss.

However, this shows MariMed can earn money. Profits should move much higher once more markets open up as well. With its own product line and its consulting business positioned in multiple states, MRMD should grow along with the U.S.’s weed industry.

OrganiGram Holdings, Inc. (OGRMF)

Unlike its peers, OrganiGram (OTCMKTS:OGRMF) takes a unique approach to medical pot. It focuses on treatments for conditions such as PTSD and chronic pain.

The firm also emphasizes partnerships. The company will invest in Eviana Health Corporation, a European, cannabinoid-focused hemp company. With Europe more ready than ever to embrace legalization, this gives OrganiGram an early advantage.

OrganiGram also signed a deal with Canopy Growth (NYSE:CGC). Under terms of the agreement, OrganiGram will provide Canopy’s Tweed retail locations in Newfoundland and Labrador with branded cannabis products. Since Canopy also made a deal with Constellation Brands (NYSE:STZ), this creates that much-needed U.S. connection. This agreement could lead to a medical marijuana agreement in the U.S. whenever the government permits Canadian medical cannabis products.

At current prices, this takes the 2019 forward P/E ratio to about 48.6. Given where other marijuana stocks trade, this makes OGRMF a safer bet than most. Also, with its connections to Europe and now, an indirect contact in the U.S., OrganiGram should place itself in a strong market position once sales in the U.S. and Europe take off.